highlights
You can become a millionaire by investing regularly over a long period of time.
An average return of 12 percent for mutual funds is normal.
To get more benefits for less money, you need to choose a long-term plan.
New Delhi. Currently, the trend to make money out of money continues. Everyone wants more money. Because of this, many people invest part of their income in such a place where they can get better returns. If you invest correctly, you can become a millionaire with less money. However, for this you need to constantly invest with patience.
If you also want to become a millionaire by investing less, then we will tell you such a formula for investing in mutual funds SIP that can make you a millionaire. Here we explain how the returns from long-term investment in mutual funds are calculated. With its help, you can carry out investment planning.
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Set a financial goal before investing
Whenever you start investing anywhere, set your financial goal. This way you can easily understand how much you need to invest for the amount you want to raise. If you’re a professional, you can become a millionaire by regularly investing a fixed amount over a longer period of time.
How long does it take to become a millionaire?
If you invest in a mutual fund that gives you a return of up to 12%, you will need to deposit a SIP of 20,000 rupees every month for 15 years. Let us tell you that a 12% return is normal for mutual funds. On average, you can easily get that much return. In this way, the amount you invest in 15 years is Rs 36 lakhs which will benefit you about 65 lakhs and make you a millionaire.
Choose a long-term program to get the maximum benefit
If you want to become a millionaire by investing less money, you need to go for a long-term program to do it. Because to become a millionaire fast through mutual funds, you need to invest more. If you opt for a long-term settlement in such a situation, you can benefit greatly. If you opt for a 25-year investment program, you only need to invest 8,000 rupees each month. This way you get a return of more than a crore.
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Tags: business news, Business news in hindi, earn money, investments, Money making tips, Investment funds, Gulp, Systematic Investment Plan (SIP)
FIRST RELEASED : March 3, 2023 1:52 PM IST
